Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 5.7% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price rose 5.7% during trading on Thursday . The stock traded as high as $12.14 and last traded at $12.15. Approximately 216,635 shares changed hands during trading, a decline of 86% from the average daily volume of 1,503,994 shares. The stock had previously closed at $11.50.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a research report on Monday. They set a “sell” rating on the stock.

Tonix Pharmaceuticals Stock Performance

The company’s 50-day simple moving average is $29.24 and its 200 day simple moving average is $25.22. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07. The stock has a market cap of $22.06 million, a P/E ratio of 0.00 and a beta of 2.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($23.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($203.00) by $180.00. The business had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $2.63 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. As a group, sell-side analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new stake in Tonix Pharmaceuticals in the fourth quarter worth approximately $40,000. PFG Investments LLC purchased a new stake in Tonix Pharmaceuticals in the fourth quarter worth approximately $72,000. Finally, Geode Capital Management LLC boosted its stake in Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock worth $650,000 after buying an additional 1,855,907 shares in the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.